WPP announces that it has acquired a majority stake in Team Y&R Holdings, the region’s largest diversified communications conglomerate, founded by Talal Makdessi (ArabAd Man of the Year 2007), established in 1997 and in which WPP has held a minority stake since 1999, and which operates in the MENA region.

THG’s Chairman is Talal Makdessi & Chairman and World President of IAA Joseph Ghossoub is the Director and CEO.

The Holding Group (THG) a.k.a Team , operates through a wide and diversified range of expertise by companies including Team Y&R, Asda’a [its PR unit], Intermarkets, Mediaedge:cia [the media buying unit], Polaris [another PR firm] and Wunderman.

Team Group has significant operations in the United Arab Emirates, Saudi Arabia, Lebanon, Kuwait, Morocco, Jordan, Qatar and Oman and employs over 1,200 people. Major clients include Emaar, Etisalat, Alpha Telecom, Royal Jordanian, Almaza Beer, Winston, Ford, LG Electronics, Mashreq Bank, Microsoft, Sony Ericsson, Commercial Bank of Kuwait and Visa.

Team Group’s claimed revenues of US$100 million for 2007, with gross assets of US$242 million.

Such a hulking investment is a first its kind; an acquisition that speaks by itself, and where it looks like WPP has more surprises in store coming our way; as this unexpected move confirms WPP’s new strategy, of a full load roll out and networks development, in fast growing markets and sectors.

Originally published in ArabAd, March 2008

I was browsing the internet and to my great surprise I found out that WPP purchased Intermarkets Advertising from Joseph GHOUSSOUB and Talal MAKDESSI.
My late father Erwin GUERROVICH has never received the monies due to him for this sale, this is why we are in courts for now over 10 years now.
How can Intermarkets advertising be sold to WPP if neither my late father, neither us were paid?
Was that fact hidden from WPP when Intermarkets Advertising was sold?
Ironically the official reason Joseph GHOUSSOUB and Talal MAKDESSI give in court for not paying their due is that the sale was never completed?
How can Joseph GHOUSSOUB and Talal MAKDESSI sell Intermarkets Advertising to WPP if the initial sale from Erwin GUERROVICH was not completed?
WPP doesn’t have lawyers that check what they are buying beforehand?
I am ready to answer all questions you can PM me or comment here.
YG

“Intermarkets, the oldest PR and advertising group and marketing communications network agency in the Middle East, was founded in 1961 in Beirut, Lebanon, introducing the concept of modern communication to the Middle East. Today, it has 11 strategically located offices. Having gained a high reputation and numerous awards for their creative advertising campaigns, Intermarkets has a holistic full-service approach, including relationship marketing, market research, and corporate identity services for their industry-leading clients.”